SATURDAY, AUGUST 02, 2025
Seoul shares finish lower amid Trump's tariff determination
South Korean stocks ended lower for the second consecutive session in Friday amid US President Donald Trump's determination to push forward with his controversial tariff policies.
Published on Mar 14, 2025
By IANS
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- SEOUL — South Korean stocks ended lower for the second consecutive session in Friday amid US President Donald Trump's determination to push forward with his controversial tariff policies. The local currency stayed unchanged against the greenback from the previous session.
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- The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.28 points, or 0.28 percent, to close at 2,566.36.
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- Trade volume was moderate at 357.3 million shares worth 9.8 trillion won ($6.74 billion). Winners, however, outpaced losers 508 to 356, reports Yonhap news agency.
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- Foreign investors and institutions together sold a net 310.7 billion won, while retail investors bought a net 209.4 billion won.
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- Overnight, Wall Street lost ground after Trump stressed his commitment to tariffs on steel, aluminum and cars, as claims of policy inconsistency lingered due to his administration's recent adjustments to the imposition of levies on Canadian and Mexican goods.
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- The S&P 500 shed 1.39 percent, and the tech-heavy Nasdaq plummeted 1.96 percent. The Dow Jones Industrial Average slipped 1.3 percent.
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- Market watchers predict that as the Constitutional Court's ruling on President Yoon Suk Yeol's impeachment trial approaches, the domestic stock market could experience choppy trading near the 2,600 level next week.
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- "The local stock market has remained relatively strong when compared to volatility in the U.S., but investors should be cautious about the potential escalation of political risks," Kim Ji-won, an analyst at KB Securities, said.
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- In Seoul, battery manufacturers and bio shares lost ground. LG Energy Solution slid 4.11 percent to 326,500 won, and Samsung Biologics shed 0.19 percent to 1,051,000 won.
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- Energy-related shares also retreated, with leading refiner SK Innovation plunging 5.17 percent to 132,000 won, and LG Chem down 4.74 percent 231,000 won.
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- Steel and automotive shares, sectors exposed to U.S. tariff risks, lost ground as well. Top steelmaker POSCO Holdings fell 2.56 percent to 304,500 won and leading automaker Hyundai Motor slipped 1.24 percent to 198,500 won.
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- Chipmakers, however, prevented the market from incurring further losses. SK hynix gained 2.4 percent to 204,500 won, while Samsung Electronics remains unchanged at 54,700 won.
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- The local currency was trading at 1,453.8 won against the U.S. dollar at 3:30 p.m., unchanged from the previous session.
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- Bond prices, which move inversely to yields, fell. The yield on three-year Treasurys rose 2.6 basis points to 2.596 percent, and the return on the benchmark five-year government bonds added 1.5 basis points to end at 2.640 percent.
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